Hi folks...thought I would relay some information and suggest some actions you might wish to consider. 3 weeks ago we were inundated by a 500 year flood in Cranston Rhode Island (my wife and kids live there while I work in NJ). Basement filled to the ceiling (found can of crisco lodged in basement ceiling rafters) and waist high in the 1st floor. We basically lost everything. Luckily I work as a commercial property underwriter, knew the system pretty well, and had purchased NFIP (Federal Flood Insurance). My neighbors for the most part did not. Some important info:

1. You have to go through your agent to purchase this....NOTHING is covered by your regular homeowners for flood.

2. You have to purchase contents and building coverage separately. If your mortgage company makes you purchase NFIP, it does NOT cover your contents unless you add it separately.

3. Basements are bad news. It will only cover HVAC, washer and dryer in the basement. Finished basement improvements and contents are not covered. Don't put stuff down there that is worth $$$$

4. This is not FEMA! FEMA will pay for some things if you don't have insurance but it will not come close to making you whole.

This will end up being an $80,000 loss....flood insurance will cover about $65,000 to 70 grand. Personal property is covered on an Actual Cash (depreciated) basis as are appliances and such, so you can never quite get a true replacement.

My neighbors were going absolutley nuts either thinking their homeowners covered their loss or FEMA would pick up the full tab. Lots of screaming, crying and cursing.

My free advice: If you live anywhere NEAR a flood zone, talk to your professional insurance agent to see if you qualify and consider purchasing it. My premiums were about 700 bucks a year. I felt it was a good personal risk management purchase.

Anyways, we can't replace all of our memories in books, kids stuff saved for grandchildren and you have NO IDEA of what a basement looks like after a flood or the pain in the rear factor of clearing it...BUT...it will only be a minor financial blip rather than a major financial loss. Once again, free advice. I hate to see anyone going through the misery of our neighbors losing not only their stuff but having to incure major debt. Best Regards, RICH SNEAD

I live 50 feet above an active creek and FEMA had the property listed in a flood zone. After I applied for an exemption because of natural drainage I was able to save the cost of a flood insurance policy which otherwise would be mandatory to receive a mortgage.

I feel for ya. I have gone through 4 floods here in Fairfield, NJ (also home of North Jersey Gun Club). Just recently had 2 feet in the same flood you just went through. Its a helpless feeling for sure